Stories for October 2017
Tuesday, October 31
Amgen Inc. in Thousand Oaks has entered an agreement to buy Kirin-Amgen, its joint venture with Japan-based Kirin Holdings Co., for $780 million, the company announced.
Tejon Ranch Co. near Lebec announced it raised an estimated $90 million from its recent stockholders’ rights offering to help fund its proposed housing and commercial communities.
Marijuana industry services firm PayQwick has received $2.9 million in funding, the company announced.
Monday, October 30
BAK Industries is closing its two San Fernando Valley locations resulting in the elimination of 261 employees.
The site of Weddington Golf & Tennis in Studio City is poised to become the new home of Harvard-Westlake School’s controversial athletic center and parking garage, after the private school entered an agreement on Monday to purchase the property from the Weddington family.
Cinedigm Inc. has expanded its Dove Channel streaming network to include the Roku platform in Canada, the Sherman Oaks entertainment company announced.
Cheesecake Factory opened its first restaurant in Bahrain on Oct. 29 under a licensing agreement.
Sports Academy books basketball tournaments as revenue stream.
Basketball tournaments become revenue stream for Thousand Oaks sports facility.
What got sold, bought and leased in San Fernando Valley submarket.
What got sold, bought and leased in Burbank and Glendale submarkets.
What got sold, bought and leased in Santa Clarita submaret.
What got sold, bought and leased in Antelope Valley submarket.
For Dan Kahn, public relations is a career that blends his love for autos with creative opportunities.
Dan Kahn, of Kahn Media Inc., on how he shifted gears into automotive PR.
Animal-friendly online broadcaster seeks savings plan partners.
How to take spending on Fluffy up a notch.
ENTERTAINMENT: $30 million ‘Odysseo’ preps season run.
Cavalia horse and circus show could boost Camarillo’s economy in holiday season.
Gadgets that teach electric wiring and programming are the buzz at Microduino.
Builders may have an answer for a shrinking economy and spiking home prices.
Can real estate help Ventura County’s economy?
Staff firm’s website helps HR understand unconventional careers.
Creative Circles’ website helps HR professionals hire creative types.
STARTUPS: Megan Dugan and Crystal Jones keep crossing paths at work.
In business, it’s not what you know that matters – it’s who you know.
MANUFACTURING: Heavy-lift launch systems could take astronauts to Mars.
Four rocket engines for the Space Shuttle are ready to be attached to the core stage of the Space Launch System, NASA’s next generation heavy-lift rocket that will take astronauts on missions into deep space, potentially even to Mars.
NONPROFIT: New leadership team plans to ‘enhance value proposition.’
Alan Kassan, a Valley native, was sworn in as the San Fernando Valley Bar Association’s 87th president at the SFVBA Installation Gala this month.
With a near-death experience behind it, Pacoima Federal Development Credit Union plans to move into micro-loans.
Pacoima credit union’s new sponsorship.
MANUFACTURING: Deals in Taiwan and Russia lift stock price 38 percent.
New contracts for Capstone’s power turbines lifts stock price.
BIOTECH: Before entering the U.S., Pulmostics plans to take its cancer technology to Mexico.
Medical device maker plans an international-first strategy for its cancer detection device.
24th CSUN’s ranking among ‘rising star’ research institutions
California State University – Northridge receives top grades for research.
Friday, October 27
Covercraft, a maker of automotive covers and protectors, plans to relocate within Valencia to the new IAC Commerce Center, according to brokerage CBRE Group Inc.
Walt Disney Co. and American International Group Inc. are embroiled in a legal battle over a $25 million reimbursement claim connected to the settlement of a meat company’s defamation lawsuit against Disney subsidiary ABC News.
Regency Palms, an assisted living facility in Oxnard, has received a $12.5 million loan from iBorrow, a bridge loan provider in Los Angeles.
The board of the Los Angeles Country Metropolitan Transportation Authority decided Thursday to move ahead with improvements to the Orange Line busway that include gates at intersections along the route.
LIST: Multiple systems and technologies provide hedge against data breaches.
Banks invest in tools and partnerships to strengthen cybersecurity.
Thursday, October 26
Seven Valley-area leaders were honored for their community involvement at a luncheon event Thursday at the Hilton Woodland Hills hotel.
The Public Investment Fund of the Kingdom of Saudi Arabia is seeking to invest $1 billion into the space companies of billionaire Richard Branson’s Virgin Group.
Ventura County’s economy has declined due to job losses in high-paying industry sectors, with only low-paying jobs increasing, according to the California Lutheran University Center for Economic Research and Forecasting, which reported its economic forecast for 2018 in Ventura County at the Serra Center in Camarillo Thursday.
Public Storage in Glendale exceeded Wall Street expectations on revenue and earnings despite incurring damages to its facilities from Hurricanes Harvey and Irma.
Wednesday, October 25
Shares of Avery Dennison Corp. jumped more than 5 percent Wednesday following the release of its third-quarter financial results, which beat Wall Street expectations for earnings and revenue.
The Valley Economic Development Center, a lending and economic development nonprofit based in Sherman Oaks, has received a $125,000 grant from Wells Fargo & Co. to support its work with women- and minority-owned businesses in the San Fernando Valley.
Amgen Inc. on Wednesday said its third-quarter earnings beat Wall Street expectations despite a slight drop in sales.
Tuesday, October 24
Lion Real Estate Group in Los Angeles has bought three apartment complexes in the San Fernando Valley for $41.6 million, according to the company.
Amgen Inc. on Tuesday announced a cancer awareness campaign with Joan Lunden, a breast cancer survivor and award-winning journalist.
Los Angeles Fire Department issued a citywide Red Flag Alert for wildfires on Tuesday, the first time in more than two years that officials have taken this step.
Salem Media Group has tapped longtime radio personality Darrel Eason to oversee its new contemporary urban gospel music station in St. Louis.
Monday, October 23
Officials at California State University – Northridge have named the building that houses the university’s business college Bookstein Hall in honor of alumni Harriet and Harvey Bookstein.
Monster Digital Inc. has received a letter from the Nasdaq about non-compliance with the exchange’s stockholder equity requirement, which could serve as a basis for delisting the stock, the company announced Monday.
MannKind Corp. has announced that it has submitted paperwork in Brazil to seek approval of its sole product, Afrezza. The company also announced it will be restructuring its outstanding debt obligations.
L.A. County’s unemployment rate inched up to 4.9 percent in September from 4.8 percent in August even as employers in the region added 43,500 jobs to their payrolls, the state reported Friday.
Friday, October 20
The Valley Industry Commerce Association presented its annual economic forecast Friday at the Hilton Los Angeles in Universal City.
A two-building, 100,000-square-foot office portfolio in Van Nuys has sold for more than than $22 million, according to CoStar Group Inc.
Los Angeles County Olive View-UCLA Medical Center in Sylmar was locked down Thursday for about three hours amid reports that a gunman was on site, authorities said.
Ofo, a Chinese bicycle sharing company, will equip its bikes with technology manufactured by Semtech Corp., the company has announced.
Thursday, October 19
The massive, proposed Newhall Ranch development, which recently cleared two major hurdles to its materialization in northern L.A. County, is the Santa Clarita Valley site that made it into the regional pitch to Amazon.com Inc. as a possible second headquarters.
The Van Nuys Neighborhood Council has come out against a highly controversial potential site proposed in its community as a light rail system storage yard.
Digital content quality control firm My Eye Media has been acquired by a Belgian company to gain a foothold in the U.S. market.
Exer More Than Urgent Care has opened a new location in Santa Clarita in partnership with Providence Health & Services.
The city of Los Angeles Public Works Committee has agreed to reduce water discharge permit and inspection fees for microbreweries following an appeal by craft brewery members of the Greater San Fernando Valley Chamber of Commerce.
Great American Group is part of a joint venture that started liquidation sales on Thursday for the inventory of Sears stores in Canada.
Wednesday, October 18
A new law will allow Providence Tarzana Medical Center to request an additional extension from the California Hospital Seismic Safety Act.
The Santa Clarita Valley is one of nine sites presented as a possible second headquarters for Amazon.com Inc. within the Los Angeles County’s regional proposal to the e-commerce giant, according to the Santa Clarita Valley Economic Development Corp.
The California Business and Industrial Alliance in Sunland has placed a full-page ad in the northwest edition of USA Today to warn Amazon.com Inc. away from locating its second headquarters in the state.
On-location film, television and commercial production fell by 3.5 percent in the third quarter compared to a year ago because of a drop in television shoots, according to figures released Wednesday by FilmL.A.
Tuesday, October 17
Valencia Fulfillment Inc. has taken an additional 20,000 square feet in Valencia, according to Realty Advisory Group Inc.
Second Sight Medical Products Inc. will conduct a clinical study in Germany to evaluate Argus II, its retinal prosthetic system, the company has announced.
A Winnetka apartment complex has sold for the highest per-unit price in the neighborhood’s history, according to Matthews Real Estate Investment Services in El Segundo.
BankCard USA Merchant Services in Agoura Hills will relocate to Westlake Village early next year, according to Westcord Commercial Real Estate Services in Westlake Village.
Monday, October 16
Gov. Jerry Brown on Sunday signed into law a measure that will consolidate three water agencies in the Santa Clarita Valley into a single water district.
Salem Media Group Inc. will launch a contemporary urban gospel radio station in St. Louis, the company announced Monday.
U.S. Nuclear Corp. has started delivery this month of its portable tritium air monitors to the U.S. Air Force.
Antelope Valley hosts underwater pumpkin carving contest.
How carving pumpkins underwater while scuba diving helps a High Desert city’s economy.
FINANCE: Metal seller Goldco turns to virtual currencies.
Woodland Hills’ precious metals dealer expands into digital currency with new retirement accounts.
REAL ESTATE: Rail yard could claim premises of 186 firms.
Businesses face hardships from potential new rail yard.
RETAIL: TV star manager hopes to bring bounce in foot traffic.
“American Ninja Warrior” jumps into new challenge: opening a trampoline center in Thousand Oaks.
Santa Clarita firm keeps the grounds at high-end malls.
Valencia landscaping business grows with prominent retail customers.
Westfield Topanga relaunches event with entertainment draw.
Westfield Topanga mall turned day into night for its farmers market.
MANUFACTURING: Opening ceremony reveals vehicle maker’s larger plant for electric buses.
BYD Motors completes expansion with honored guests.
BIOTECH: Shares gain 152 percent on perception that sales will likely rise.
Can MannKind maintain its recent stock price surge?
Porsche calls Disney Institute for advice on management and customer service issues.
Rusnak/Westlake Porsche has a starring role in automaker’s customer service overhaul with Disney Institute.
MARKETING: Firm, owned by Bill Gates, moves from Seattle to Sherman Oaks.
Branded Entertainment Network Chief Executive Gary Shenk is not shy to talk about the milestones the company has achieved this year.
LOBBYING: Armenia Fund seeks better trade relations with homeland.
Stronger trade ties between the U.S. and Armenia may be on the horizon thanks to Glendale-based Armenia Fund, which rounded up a group of U.S. Congressmen for three-day trip to Armenia in mid-September.
Milton Valera runs the National Notary Association, a trade group in Chatsworth with nearly half a million active members.
Q&A: Milton Valera, head of the National Notary Association, on the need for notaries amid increasing identity theft.
LIST: As people live longer, assisted care operators develop new programs.
Eldercare facilities are needed but hard to build.
DEVELOPMENT: City swells with 4,000 new apartments built or approved.
Glendale is a city that set its eyes on a prize and achieved it.
ONE MORE THING: Metro bureaucrats address business concerns with indifference.
OP-ED: Movement to repeal road repair funding is a go-nowhere deal.
Friday, October 13
Castaic Lake Water Agency and Newhall County Water District have issued a statement refuting Consumer Watchdog’s assertion that Senate Bill 634 benefits the proposed Newhall Ranch development.
Residential real estate experts and economists have projected apartment rent movement and vacancy over the next two years for Southern California and the news is not good, particularly for L.A. County.
A Sun Valley scrap metal recycling business has been convicted for failing to properly dispose of hazardous waste.
Porsche calls Disney Institute for advice on management and customer service issues.
Thursday, October 12
JetSuiteX announced Thursday it is adding flights from Burbank Hollywood Airport to Oakland International Airport starting in mid-November.
Walt Disney Co. has started laying off workers at its broadcast television and cable networks, according to media reports.
MannKind Corp. on Wednesday announced that the company is offering approximately 10.6 million shares to certain investors in an effort to raise $61 million.
Land use and planning expert Robert Scott, executive director of the Mulholland Institute in Calabasas, has joined the public outcry against a Van Nuys site proposed to become a light rail system storage yard.
Post-production house Point.360 has filed for Chapter 11 bankruptcy reorganization to reduce costs and optimize operations.
Wednesday, October 11
A 277-unit apartment complex broke ground Wednesday in the Warner Center neighborhood of Woodland Hills.
A group of Van Nuys businesses – facing possible eviction to make way for a proposed train yard – got disappointing news Tuesday evening.
Beckman Coulter Inc. is laying off 141 employees in Chatsworth, according to documents filed with the state.
Tuesday, October 10
Three companies have grown their footprint in Valencia to accommodate business growth.
Riding the momentum of last week’s gains, MannKind Corp. closed up again more than 25 percent Tuesday.
Canyon Square Plaza in the Santa Clarita Valley has sold for $22.5 million, according to Cushman & Wakefield.
Radio broadcaster Salem Media Group in Camarillo has renewed its contract with KRLA-AM and KTIE-AM personality Brian Whitman, co-host of The Morning Answer radio show in Los Angeles.
Lewis D’Vorkin has been named editor-in-chief of the Los Angeles Times and Mickie Rosen has been named president of Los Angeles Times Media Group, a unit of Chicago-based tronc Inc., the company announced Monday.
Monday, October 9
The organization Consumer Watchdog has issued a statement asking if Gov. Jerry Brown should sign a bill that would benefit the Newhall Ranch project in Santa Clarita since Brown’s sister sits on the development company’s board.
Criticism over partnering with Northrop Grumman Corp. led Marvel Entertainment over the weekend to cancel a deal to produce a comic book with the aerospace and defense contractor, according to media reports.
Caine & Weiner Inc., an accounts receivables and collections service in Woodland Hills, will move its national headquarters to San Fernando, according to CBRE Group Inc.
Friday, October 6
The inventor of the original zipper has been awarded a patent for a textile technology that promises to put an end to tight shirt collars.
KCETLink Media Group, the independent television network in Burbank, has outsourced its broadcast origination operations and production facilities, the company announced Thursday.
NASA Armstrong Flight Research Center has awarded a $16 million contract to purchase up to three engines from General Electric Co. for use on the space agency’s experimental airplane now in development.
Thursday, October 5
Conejo Valley’s senior biotech executives discussed why they put down roots in the region at the BioScience Alliance’s Panel Event on Wednesday in Thousand Oaks.
Two Valley eldercare facilities have traded hands as part of a $378 million portfolio to an Orange County health care property owner.
An upgrade from Oppenheimer has pushed the stock of Capstone Turbine Corp. to its highest price in nearly a year.
Wednesday, October 4
California State University – Northridge and Dignity Health Northridge Hospital Medical Center have entered a health partnership, the school has announced.
Back from the brink of closure, the Pacoima Development Federal Credit Union has launched a new microloan program for entrepreneurs and small businesses located in Pacoima and the San Fernando Valley.
Walt Disney Co. Chief Executive Robert Iger will step down in two years, according to media reports.
The board of the Los Angeles County Metropolitan Transportation Authority is considering adding gates and building a mile-long bridge to speed up travel on the Orange Line busway.
Tuesday, October 3
Emerging details about the life of Stephen Paddock, the man who opened fire Sunday on a crowd at a Las Vegas concert before killing himself, reveal ties to the San Fernando Valley.
Amgen Inc. today announced that it has entered into a strategic collaboration in immune-oncology with CytomX Therapeutics Inc. in San Francisco.
Following a 7 percent increase Monday, shares of MannKind Corp. stayed bullish, closing up more than 20 percent increase on Tuesday.
Simulations Plus Inc. released preliminary results for its fiscal fourth quarter and fiscal 2017, saying that it’s the last time it will release results prior to officially filings with the Securities and Exchange Commission.
Sierra Bancorp has completed its acquisition of OCB Bancorp, parent of Ojai Community Bank, in a deal valued at $36 million.
Monday, October 2
MannKind Corp. today announced that the U.S. Food & Drug Administration has updated prescribing information for Afrezza, the company’s sole commercial product.
Investment bank FBR Capital Markets & Co. has hired four analysts to cover the health care, pharmaceutical, medical devices and diagnostics industries.
Job growth in Los Angeles slowed last year, according to a report from Beacon Economics.
Owner of Fillmore & Western Railway has new marketing plans to bring tourists to the heartland of Ventura County.
Fillmore railroad company settles lawsuit. Now what?
AEROSPACE: Both defense contractors boast a strong Valley presence.
Northrop Grumman’s stock soars from Orbital ATK purchase.
MARKETING: MGA show features girl inventors whose experiments are available in toy stores.
MGA Entertainment’s STEAM show spawns product line for girls.
2 Million New cars & trucks sold in California this year
Sales of new cars dip in California while trucks climb.
Medical directive fixes ‘inadvertent gap’ in HIPPA law.
Fixing HIPPA: new ID card resolves gap in health care law.
NoHo native’s tune readies futuristic, gospel adaptations.
Valley songwriter sings about L.A. again in new versions.
Ad-based model focuses on wagering, not gambling.
eSports FTW website leverages the rising popularity of electronic games.
REGION: Businesses adapt to street people near premises.
Local businesses find ways to address homelessness.
DEVELOPMENT: Can planned city check all the company’s boxes?
Could Santa Clarita Valley offer what Amazon wants for a second headquarters?
BIOTECH: New cancer biosimilar faces lengthy run of litigation.
How the world’s biggest drug companies balance new drugs with competing copycat drugs.
Op-Ed: With the 2028 Olympics in L.A.’s future again, public transit needs to step up.
ONE MORE THING: Disney’s so-so performance as corporate citizen.
CONSTRUCTION: Santa Clarita to gain 870,000 square feet of industrial space.
A chunk of one of L.A. County’s largest, if not the largest, tract of entitled land is being prepped to eventually become a vast new industrial complex in the southernmost part of the Santa Clarita Valley.
LIST: Technology and time constraints make groups ‘more relevant than ever.’
How chambers of commerce strive for relevance.
LIST: In response to market, real estate reps revamp their organizations, procedures.
Brokers discuss the biggest changes for commercial real estate firms.
Business owners coalesce to avoid displacement by Metro’s East San Fernando Transit project.
The Los Angeles County Metropolitan Transportation Authority, or Metro, has plans for a transit project that has raised concerns among Van Nuys business owners.
EVENT: At breakfast, execs point to progress for the industry in Conejo Valley.
Valley biotech executives shared their insights and challenges at the Corporate Leaders Breakfast organized by California Lutheran University, held at the Ronald Reagan Presidential Library in Simi Valley on Sept 15.